There were 17 PPP loans issued in Montana during the week ending May 10. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Bighorn Vac, Inc. | 2020-05-04 | $150,000-350,000 |
| Shellies Country Cafe, Inc. | 2020-05-04 | $150,000-350,000 |
| Sir Scott's Oasis Steak House & Lounge | 2020-05-04 | $150,000-350,000 |
| Vincelli Cafes, Inc. | 2020-05-04 | $150,000-350,000 |
| Bluebird Property Rentals, LLC | 2020-05-05 | $350,000-1 million |
| Farmers Union Mutual Insurance Company | 2020-05-05 | $350,000-1 million |
| Alpine Customs, Inc. | 2020-05-05 | $150,000-350,000 |
| Becker Hospitality | 2020-05-05 | $150,000-350,000 |
| Montana Farmers Union Insurance Agency, Inc. | 2020-05-05 | $150,000-350,000 |
| Western Bee Supplies, Inc. | 2020-05-05 | $150,000-350,000 |
| Wolf Point Community Organization | 2020-05-05 | $150,000-350,000 |
| Glacier Raft Company, Inc. | 2020-05-06 | $350,000-1 million |
| JM Services Crane and Rigging, Company | 2020-05-07 | $1-2 million |
| Quality Life Concepts, Inc. | 2020-05-07 | $1-2 million |
| West Mont | 2020-05-07 | $1-2 million |
| Badlands Security Group, LLC | 2020-05-07 | $150,000-350,000 |
| Dillon Software, Inc. | 2020-05-08 | $150,000-350,000 |
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